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Perth, Jan 16, 2012 (ABN Newswire) - Blackham Resources Ltd (
ASX:BLK) is pleased to announce that is has completed a review of existing deposits at the Matilda Gold Project. This review has identified 601,000oz of existing resources within the project area, including 301,000oz of resources remaining at the Williamson Mine since the completion of mining.
Background
Blackham acquired the Matilda Gold Project in November 2011, including the Matilda and Williamson Gold Mines and numerous other deposits and prospects. The project covers over 600km2 surrounding the operating Wiluna Gold Mine owned by Apex Minerals NL. This region has produced over 4 million ounces of gold. The current Wiluna Gold Mine resource is 12.7 Mt at 5.4g/t gold (as reported by Apex Minerals NL in their 2010 annual Report).
The review of resource estimates to date has focussed on advanced prospects and mines. The Company will continue to review other prospects in the project to determine potential resources and exploration targets.
Williamson Resources
The Williamson Gold Mine was operated by Agincourt Resources Limited during 2005-2006 with production reported by Agincourt of approximately 23,000oz. The Williamson Pit strikes over 700m and extends to a depth of approximately 90m at its deepest point. Mineralisation continues along strike and beneath the pit and has been modelled to approximately 250m.
Oblique view of the Williamson Pit and mineralisation (Green 1-3 g/t, Red 3-5 g/t, Magenta >5g/t). Further drilling is warranted at Williamson to improve the resource status into Indicated and Measured categories before commencing feasibility studies with modern economic parameters.
High grade zones at depth provide encouragement for underground mining. Importantly, metallurgical test work at Williamson has identified the ore as free-milling; therefore the ore should be easily recoverable using conventional extraction techniques.
The Williamson South deposit lies only 500m south of Williamson and strikes over 1.5km. The deposit has only been shallowly drilled to approximately 70m and could be significantly upgraded with additional deep drilling.
Matilda Deposits
The Matilda Mining Centre was last exploited by ASARCO during the mid-90's, comprising 7 shallow open pits. Most of these pits were mined to less than 50m and have significant mineralisation outside the pit limits. It is a large mineralised system with gold hosted in saddle reef and shear structures often with near surface supergene enrichment.
Blackham has so far has reviewed only two of these deposits, M2 and M10, and will evaluate the other deposits in due course. The M10 deposit, whilst relatively small, has ore near surface and represents an immediate development opportunity. The Company intends to commence drilling at M10 in the coming weeks.
Regent and Galaxy
Both the Regent and Galaxy Deposits are hosted within the Wiluna Mine Sequence, a similar setting to that which hosts the 4Moz Wiluna Mine operated by Apex. There is considerable scope for increasing the Regents resource at depth while at Galaxy, the structural setting provides encouragement for additional deposits to be found.
For the complete announcement including tables and figures, please view:
http://media.abnnewswire.net/media/en/docs/71282-ASX-BLK-574084.pdf
ASX:BLK) is pleased to announce that is has completed a review of existing deposits at the Matilda Gold Project. This review has identified 601,000oz of existing resources within the project area, including 301,000oz of resources remaining at the Williamson Mine since the completion of mining.Background
Blackham acquired the Matilda Gold Project in November 2011, including the Matilda and Williamson Gold Mines and numerous other deposits and prospects. The project covers over 600km2 surrounding the operating Wiluna Gold Mine owned by Apex Minerals NL. This region has produced over 4 million ounces of gold. The current Wiluna Gold Mine resource is 12.7 Mt at 5.4g/t gold (as reported by Apex Minerals NL in their 2010 annual Report).
The review of resource estimates to date has focussed on advanced prospects and mines. The Company will continue to review other prospects in the project to determine potential resources and exploration targets.
Williamson Resources
The Williamson Gold Mine was operated by Agincourt Resources Limited during 2005-2006 with production reported by Agincourt of approximately 23,000oz. The Williamson Pit strikes over 700m and extends to a depth of approximately 90m at its deepest point. Mineralisation continues along strike and beneath the pit and has been modelled to approximately 250m.
Oblique view of the Williamson Pit and mineralisation (Green 1-3 g/t, Red 3-5 g/t, Magenta >5g/t). Further drilling is warranted at Williamson to improve the resource status into Indicated and Measured categories before commencing feasibility studies with modern economic parameters.
High grade zones at depth provide encouragement for underground mining. Importantly, metallurgical test work at Williamson has identified the ore as free-milling; therefore the ore should be easily recoverable using conventional extraction techniques.
The Williamson South deposit lies only 500m south of Williamson and strikes over 1.5km. The deposit has only been shallowly drilled to approximately 70m and could be significantly upgraded with additional deep drilling.
Matilda Deposits
The Matilda Mining Centre was last exploited by ASARCO during the mid-90's, comprising 7 shallow open pits. Most of these pits were mined to less than 50m and have significant mineralisation outside the pit limits. It is a large mineralised system with gold hosted in saddle reef and shear structures often with near surface supergene enrichment.
Blackham has so far has reviewed only two of these deposits, M2 and M10, and will evaluate the other deposits in due course. The M10 deposit, whilst relatively small, has ore near surface and represents an immediate development opportunity. The Company intends to commence drilling at M10 in the coming weeks.
Regent and Galaxy
Both the Regent and Galaxy Deposits are hosted within the Wiluna Mine Sequence, a similar setting to that which hosts the 4Moz Wiluna Mine operated by Apex. There is considerable scope for increasing the Regents resource at depth while at Galaxy, the structural setting provides encouragement for additional deposits to be found.
For the complete announcement including tables and figures, please view:
http://media.abnnewswire.net/media/en/docs/71282-ASX-BLK-574084.pdf
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About Blackham Resources Limited
Western Australian resources company, Blackham Resources Limited (ASX:BLK) is evaluating the development of the Scaddan and Zanthus Energy Projects for the export of coal and development of a coal to liquid (CTL) facility.
The Scaddan and Zanthus Energy Projects, located near Esperance, Western Australia, contain world scale coal deposits totalling 1.4 billion tonnes with over 10,600 PJ of energy at shallow depth and very low mining costs.
The project has the potential to produce 860 million barrels oil equivalent, consisting mainly of a clean diesel, as well as additional power for the region.
The Scaddan Energy Project is surrounded by complimentary infrastructure approximately 60 kilometres north of the town and major port of Esperance and 10 kilometres east of the Esperance to Kalgoorlie highway, gas pipeline and railway line.
Blackham has large landholdings in the Western Australia for across a number of commodities.
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